STORM TRACKING APP. JUST SEARCH WKMG IN YOUR APP STORE. OUR OTHER BIG STORY THIS EVENING, ORLANDO'S DEEP DEFICIT. CITY LEADERS ARE EXPECTING A HUGE GAP BETWEEN TAXES AND SPENDING. SO IF YOU LIVE IN THE CITY, YOU COULD SEE A TAX HIKE. WE ARE TALKING ABOUT $17 MILLION IN PROPERTY TAX HIKES, ON TOP OF A PUSH TO SLASH SOME $15 MILLION IN SPENDING ON ALL OF THE SERVICES THE CITY PROVIDES. LOCAL 6'S LOUIS BOLDEN IS LIVE IN DOWNTOWN ORLANDO AND OTHER CITIES ARE SAYING THEIR FINANCES ARE IMPROVING, SO WHAT'S GOING ON HERE? WELL, GINGER, ONE CITY COMMISSIONER CALLED IT THE PERFECT STORM. YOU KNOW, COMMISSIONERS GOT THE NEWS INITIALLY A COUPLE OF WEEKS AGO. TODAY THEY GOT AN UPDATE THAT DIDN'T LOOK MUCH BETTER. WE HAD A BUDGET GAP OF $52 MILLION. ORLANDO'S CHIEF FINANCIAL OFFICER GAVE A BRIEF PRESENTATION THAT WAS CRYSTAL CLEAR. THE CITY IS FACING A BUDGET GAP OF TENS OF MILLIONS OF DOLLARS. EVEN WITH A 5% ACROSS THE BOARD CUT, THE CITY STILL HAS A GAP OF NEARLY $30 MILLION. THE CFO SAYS THE OPTIONS ARE SIMPLE. RAISE REVENUES BY RAISING TAXES OR REDUCE SERVICES. THOSE ARE THE KINDS OF CHOICES THAT WE HAVE AND THEY'RE NOT GOOD CHOICES. AGAIN, WE HAD A PERFECT STORM. THE STORM STARTED WITH PROPERTY TAX REFORM AND CONTINUED WITH THE REAL ESTATE MARKET CRASH. THE CITY IS BRINGING IN LESS IN PROPERTY TAXES THAN IT HAS IN YEARS. LOOKING AT THIS CHART OF WHAT RESIDENTS PAID IN 2009, COMPARED TO 2014, IT MEANS MUCH LESS IN REVENUE AND LIKELY MEANS RAISING TAXES. BOTTOM LINE IS WE CAN'T CONTINUE TO PROVIDE A LEVEL OF SERVICE WITH LESS REVENUE COMING IN, SIGNIFICANTLY LESS REVENUE. NOW KEEP IN MIND, WHAT THEY'RE DEALING WITH NOW ARE PROJECTIONS WHICH IS WHAT THEY EXPECT TO BRING IN. THEY'RE GOING TO GET ANOTHER BUDGET UPDATE AT THE END OF JULY, SO THE NUMBERS COULD FLUCTUATE JUST A BIT. YEAH, LOUIS. I'M ALMOST AFRAID TO ASK. WHAT HAPPENS IF THE CITY CONTINUES WITHOUT MAKING CHANGES? WELL, THAT WOULD MEAN THE CITY WOULD BE OPERATING IN THE RED, WHICH COULD CAUSE A NUMBER OF OTHER PROBLEMS, INCLUDING A LOWER CREDIT RATING. NOW FOR ME AND YOU, GINGER, IT WOULD BE LIKE HAVING A LOWER CREDIT SCORE. OF COURSE, WHEN YOU HAVE A LOW

ORLANDO, Fla. -

The City of Orlando is facing a budget shortfall, which means the city is projected to bring in less money than it spends.

The shortfall could be close to $30 million, even if the city makes a 5 percent reduction across the board.

The city's chief financial officer, Rebecca Sutton, said during a presentation Monday that there were two options for the city -- raise revenue by increasing taxes or cut services.

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"Those are the kind of choices that we have," said District Four Commissioner Patty Sheehan. "They're not good choices."

The problems started with property tax reform, according to city officials, and continued with the real estate market crash.

"The bottom line is we can't continue to provide a lot of the services with less revenue coming in," Sheehan said.

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